Ministry of Commerce responds to the next phase of boosting consumption strategy: will propose new countermeasures according to the situation.

On July 18th, Minister of Commerce Wang Wentao responded at a press conference of the State Council Information Office to the question "What other consumption-stimulating policies will be implemented during the '15th Five-Year Plan' period". He stated that during the '15th Five-Year Plan' period, the Ministry of Commerce will transform some good experiences and practices, as well as effective policies loved by consumers in the Chinese market, into regular and long-term measures. At the same time, in response to the severe and complex situation, international instability and uncertainty, new policies will be proposed according to the situation. "As I have said before, our toolbox is rich, and we will be fully prepared," Wang said. In the future, targeted policies will be introduced to further stimulate consumption development momentum, unleash the potential of service consumption, amplify the driving effect of emerging consumption, comprehensively expand domestic demand, and strengthen the domestic circulation.